RACQ Insurance - Cyclone Mitigation Terms and Conditions – As at 15 February 2016

Relevant RACQ Insurance Policies and Product Disclosure Statement

  • RACQ Insurance Limited (ABN 50 009 704 152)(“RACQI”) is the issuer of various insurance products which include RACQ Household Insurance.
  • A RACQ Household Insurance Policy can provide cover for:
    • Combined Home and Contents Insurance
    • Home Insurance
    • Contents Insurance
    • Renters Insurance
  • Contact our stores, agencies or phone 13 1905 to obtain a copy of the Product Disclosure Statement (“PDS”) for the RACQ Household Insurance Policy or obtain a copy online here.

Eligibility for the Cyclone Mitigation Discount and Structural Changes required to insured Homes

  • A Cyclone Mitigation Discount is available for eligible RACQI customers who:
    1. either own or rent a property at selected postcodes in North Queensland; and
    2. have a current RACQ Household Insurance Policy or who are making an application for a RACQ Household Insurance Policy; and
    3. the home which is owned or rented has undergone various structural changes to reduce the risk of cyclone damage to the home (“the Home”).
  • To be considered for the Cyclone Mitigation Discount, eligible RACQI customers must have a current RACQ Household Insurance Policy, or make an application for a RACQ Household Insurance Policy and the Home which is covered by the RACQ Household Insurance Policy must have had one, or more, of the following specific structural changes undertaken:
    • The installation of roofing options such as over batten systems and/or strapping
    • The installation of opening protection
    • A complete roof replacement
    • A complete retrofit to the current building code
[“The Structural Changes’]
  • By applying for a Cyclone Mitigation Discount, eligible RACQI customers are verifying that one, or more, of the Structural Changes to the home have been undertaken and that the RACQI customer has complied with their Duty of Disclosure as set out in the PDS for the RACQ Household Insurance Policy regarding the condition of the Home.
  • The offer of a premium discount to an eligible RACQI customer is subject to the Structural Changes having been undertaken and is at the absolute discretion of RACQI.

Calculation of the Cyclone Mitigation Discount

  • The total premium payable on the RACQI Household Insurance Policy can comprise a cyclone premium component.
  • The Cyclone Mitigation Discount is calculated by RACQI as a percentage discount on the cyclone premium component of the total premium payable by eligible RACQI customers for their RACQ Household Insurance Policy.
  • If applicable the Cyclone Mitigation Discount will range from 5% to 20% on the cyclone premium component payable by the eligible RACQI customer on the RACQ Household Insurance Policy, subject to the extent and amount of the Structural Changes which have been implemented to the Home. The maximum Cyclone Mitigation Discount which can be applied is 20%.
  • If applicable the Cyclone Mitigation Discount will be applied in conjunction with any other applicable RACQI discounts which could apply to the RACQI Household Insurance Policy.

Variation to Cyclone Mitigation Discount and settlement of Claims made on the Policy

  • In the case of an eligible RACQI customer varying any details on the Policy (such as moving insured address) then the premium and Cyclone Mitigation Discount may need to be recalculated. If a new policy is issued eligibility criteria will apply to establish whether the Cyclone Mitigation Discount can be applied.
  • RACQI is entitled to discontinue the discount for eligible RACQI customers at any point in time.
  • RACQI is entitled to extend an offer at its discretion to other RACQI customers.
  • If, at the time a claim is made on an RACQI Household Insurance Policy, it becomes known that the Structural Changes to the Home were not completed and/or the RACQI customer was in breach of their duty of disclosure then RACQI reserves its right to either avoid the insurance contract, or reduce the amount which it will pay for the claim, in accordance with the PDS and the provisions of the Insurance Contracts Act 1984 (Cth).

RACQ Privacy Policy

  • RACQ collect, process, use and disclose information about RACQ customers in accordance with our Privacy Policy, which can be viewed here. 

Jurisdiction and applicable law

  • These Terms and Conditions are governed by the laws of Queensland. You irrevocably submit to the non-exclusive jurisdiction of the courts of Queensland, and the courts competent to hear and determine matters in Queensland.